Summary
ONEOK Inc. (OKE) filed an 8-K on July 25, 2013, primarily to disclose dividend and distribution announcements. The company's board of directors approved a cash dividend of $0.38 per share of common stock, payable on August 15, 2013. This event is significant for common shareholders as it signals ongoing returns to investors. Additionally, ONEOK Partners, L.P., a subsidiary in which ONEOK Inc. holds a substantial ownership stake, announced a cash distribution of $0.72 per unit for the second quarter of 2013, also payable on August 15, 2013. ONEOK Inc.'s significant ownership in ONEOK Partners means it will receive a substantial portion of this distribution, contributing to its overall financial performance and ability to distribute dividends to its own shareholders. Both announcements reflect the company's commitment to returning capital to its equity holders.
Key Highlights
- 1ONEOK Inc. declared a quarterly cash dividend of $0.38 per common share.
- 2The dividend payment date is August 15, 2013, with a record date of August 5, 2013.
- 3ONEOK Partners, L.P. announced a cash distribution of $0.72 per unit for Q2 2013.
- 4The Q2 2013 distribution for ONEOK Partners is also payable on August 15, 2013, with a record date of August 5, 2013.
- 5ONEOK Inc. holds a significant ownership interest (approximately 43.3%) in ONEOK Partners, L.P., which includes common and Class B units, as well as the general partner interest.
- 6The company's ownership in ONEOK Partners will result in a substantial receipt of the announced cash distribution.
- 7These announcements indicate regular capital returns to both ONEOK Inc. shareholders and ONEOK Partners unitholders.